Protein Engineering Market By Product (Instruments, Consumables, Software), By Technology Type (Rational or Site Directed Mutagenesis, Irrational or Random Mutagenesis), By Protein Type (Monoclonal Antibodies, Insulin, Erythropoietin, Interferon, Others), By End User (Pharmaceutical and Biotechnology Companies, Academic Research Institutes, Contract Research Organizations): Global Opportunity Analysis and Industry Forecast, 2023-2032
The global protein engineering market was valued at $2,227.15 million in 2022 and is projected to reach $7,709.32 million by 2032, registering a CAGR of 13.2% from 2023 to 2032.
Protein engineering is the process by which a scientist alters the sequence of a protein by adding, deleting, or substituting nucleotides in the encoding gene to produce a modified protein that is better suited than the original protein for a given use or objective. There are two general strategies for protein engineering such as rational protein design and directed evolution. In rational protein design, a scientist modifies a protein by using in-depth understanding of its structure and function. Since site-directed mutagenesis techniques are well-established, this generally has the benefit of being affordable and simple to implement technically.
In addition, in directed evolution, a protein is subjected to random mutagenesis, such as sequence saturation mutagenesis or error-prone PCR mutagenesis, and variants with desirable features are chosen by a selection regime. Then, more iterations of selection and mutation are used. In general, this approach outperforms rational design since it emulates natural evolution.
The major factors driving the growth of protein engineering market are the growing demand for biopharmaceuticals, including monoclonal antibodies, vaccines, and therapeutic proteins. Protein engineering plays a crucial role in optimizing the properties of these biologics, improving their efficacy, safety, and specificity, which drive growth of the protein engineering market. In addition, rising investments from both public and private sectors in R&D activities related to protein engineering contribute to the market growth.
Furthermore, continuous advancements in protein engineering technologies, such as CRISPR-based approaches, directed evolution, and computational protein design, are driving the market growth. These technologies enable more precise and efficient manipulation of protein structures and functions.
Protein engineering accelerates drug development by providing tools to design and modify proteins for therapeutic purposes. In addition, rise in prevalence of chronic diseases, such as cancer, autoimmune disorders, and metabolic diseases, fuels the demand for innovative therapeutic solutions as engineered proteins offer targeted and personalized treatment options.
The protein engineering market is segmented into product, protein type, technology type, end user, and region. By product, the market is segregated into instruments, consumables, and software. By protein type, the market is classified into monoclonal antibodies, insulin, erythropoietin, interferon, and others. The others segment further includes interleukin, transforming growth factors, epidermal growth factors, tumor necrosis factor, stem cell factor, colony stimulating factors, growth factors, and coagulation factors. By technology type, the market is segregated into rational/ site directed mutagenesis, and irrational/ random mutagenesis.
By end user, the market is divided into pharmaceutical & biotechnological companies, academic & research institutes, and contract research organizations. Region-wise, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (India, China, Japan, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).Major key players that operate in the global protein engineering market are Agilent Technologies, Inc., Thermo Fisher Scientific Inc., Takara Holdings, Inc., Promega Corporation, New England Biolabs, Jena Bioscience GmbH, Danaher Corporation, Creative Biolabs, Amgen, Inc., and Bio-Rad laboratories, Inc. The key players have adopted strategies such as product launch, partnership, and acquisition to expand their product portfolio
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the protein engineering market analysis from 2022 to 2032 to identify the prevailing protein engineering market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the protein engineering market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global protein engineering market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy End UserPharmaceutical and Biotechnology Companies
Academic Research Institutes
Contract Research Organizations
By ProductInstruments
Consumables
Software
By Technology TypeRational or Site Directed Mutagenesis
Irrational or Random Mutagenesis
By Protein TypeMonoclonal Antibodies
Insulin
Erythropoietin
Interferon
Others
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market PlayersAgilent Technologies, Inc.
Promega Corporation
New England Biolabs, Inc.
Danaher Corporation
Bio-Rad Laboratories, Inc.
Amgen, Inc.
TAKARA HOLDINGS INC.
Thermo Fisher Scientific Inc.
Creative Biolabs Limited
Jena Bioscience GmbH
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